Good morning Sik90005,
Here in New York we use Attorneys in the Purchasing and Selling of homes. If any changes are required or requested in a contract of sale, these changes are negotiated and agreed to first by the Attorneys representing both parties (Sellers/Purchasers), then, after consultation and agreement on the part of the Sellers and Purchasers, the contract of sale is amended. Amendments are usually a separate part of the contract (although some changes can be made in the body of the contract and initialed by all parties, depending on when during the contract cycle this takes place), prepared more often by the Seller's Attorney and executed by all parties.
If you are not using an Attorney, I highly recommend you get a referral to a great local Attorney who specializes in real estate.
A good real estate attorney seeks to do two things in a purchase transaction:
1. Protect her client. This includes a review and revision of the contract of sale to remove any harmful language/requirements. Also a review of the title report to verify there are no obstructions to you, the Purchaser, receiving a good "clean" title at closing. Lastly, a thorough review and explanation of the closing documents.
2. Help the Purchaser accomplish the goal of homeownership. A good real estate attorney understands that buying a home is a happy time: someone's dream is about to come true! Thus, the adversarial nature of the contract transaction gets toned down to a matter of reasonable conversations betwen the Purchaser's and Seller's attorneys. This isn't a lawsuit or divorce case, so the good real estate attorney has to tone down the rhetoric and find reasonable compromises---while still protecting his client---so that the goal of the contract is achieved: a home purchase.
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services